Friday, October 14, 2011

Seven in 10 Americans have an unfavorable impression of the financial
institutions on Wall Street, a point of resonance with the protesters
camped out in Lower Manhattan and elsewhere. But while that sentiment is
broadly shared, its intensity rests heavily on political partisanship.
Groups such as Democrats and liberals express the most negative views of Wall Street in this ABC News/Washington Post poll.
Conservatives and Republicans are less apt to slam the brokers and
bankers, and more likely to direct their ire at the federal government.
Given this partisan and ideological cast, the results make the Occupy
Wall Street movement look like an expression, on the left, of the same
kind of frustration voiced by the Tea Party movement, on the right.
Overall, this poll, produced for ABC News by Langer Research Associates,
finds that 70 percent of Americans see Wall Street unfavorably, and
essentially as many, 68 percent, hold an unfavorable opinion of the
government in Washington. Negative views of Wall Street soar to 84
percent among liberal Democrats, versus 59 percent among conservative
Republicans. Negative views of the government in Washington, meanwhile,
reach 89 percent among conservative Republicans, versus 57 percent among
liberal Democrats.
Sharp differences also appear in intensity of sentiment, an important
measure because people with strong views can be more motivated to act on
them. Fifty-six percent of liberal Democrats have a “strongly” negative
opinion of Wall Street, as opposed to 32 percent of conservative
Republicans. By contrast, 69 percent of conservative Republicans have a
strongly negative view of the federal government, compared with 32
percent of liberal Democrats.
Partisanship isn’t the only factor in views of Wall Street. It’s rated
more negatively by better-off Americans, and more strongly negatively by
those approaching retirement age, two groups that may have been
particularly exposed to the market’s troubles.
Among Americans age 50 to 64, 55 percent have a strongly unfavorable
view of Wall Street institutions, markedly higher than among other age
groups. (Indeed, Wall Street’s unfavorable ratings actually ease off
among young adults.) And overall negative views rise from 66 percent in
less-than $50,000 households to 78 percent among those who are better
off.
ET TU, MEDIA? – A third group tested in this survey does better – or
less worse – in comparison: 53 percent of Americans have an unfavorable
opinion of the national news media. While no bunch of roses, that’s
significantly better than either the feds or Wall Street.
But the media, too, engender political and ideological divisions.
They’re rated unfavorably by 69 percent of Republicans and 76 percent of
conservative Republicans. That declines to 45 percent of Democrats, and
similar numbers of liberals and moderates alike.

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